AUD/CAD – 30M – BUYThe currency pair Australian Dollar/Canadian Dollar (AUD/CAD) breaks through the descending trendline up.
A bullish ascent up to the next resistance level at 0.90748 is considered certain.
Caution: A possible counter-trend in the direction of the support zone at 0.90340 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
Next a ‘Three Line Strike – Bullish’ candlestick chart pattern is existing. The candles show ‘Three Line Strike – Bullish’. which is a positive pattern signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Line Strike – Bullish’ going up is 83% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.91347 |
| 2nd High | 0.90868 |
| Next High | 0.90748 |
| Current Price | 0.90628 |
| Next Low | 0.90340 |
| 2nd Low | 0.89830 |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Three Line Strike – Bullish